Simplicity is best known as one of New Zealand’s lowest-fee KiwiSaver providers. But they also offer non-KiwiSaver investment funds — accessible to any NZ resident, at the same low fees as their KiwiSaver scheme.
Simplicity's diversified investment funds (Growth, Balanced, Conservative) charge 0.23% p.a. from 1 October 2026 (down from 0.24%, which had replaced 0.25% on 1 September 2025), with no member fee. Its single-sector NZ funds (Cash, Share, Bond) are cheaper at 0.10%, and its Global Share funds sit at 0.15%. The Growth Fund is the flagship diversified option: globally diversified, includes NZ shares and bonds. Minimum $1,000 to open, $50/month regular contributions. Not-for-profit structure. No individual fund selection or shares. It is no longer clearly the cheapest diversified option in NZ: it is close to, but not always below, InvestNow and Kernel depending on which fund you compare it to.
Simplicity Overview
| Feature | Details |
|---|---|
| Founded | 2016 |
| Type | Not-for-profit charitable trust |
| Products | KiwiSaver + non-KiwiSaver investment funds |
| Investment minimum | $1,000 |
| Regular contributions | From $50/month |
| Fee | 0.23% p.a. (diversified funds, from 1 October 2026); 0.15% (Global Share funds); 0.10% (NZ Cash/Share/Bond funds) |
| Member fee | None |
| Supervisor | Public Trust |
| FMA licensed | Yes |
| PIE fund | Yes |
Simplicity is structured as a not-for-profit, which allows them to operate at near-cost. Their diversified-fund fee was cut from 0.25% to 0.24% on 1 September 2025 and to 0.23% from 1 October 2026, Simplicity’s eighth fee cut. That is well below the industry average for actively managed funds, though not the outright lowest headline fee in NZ: InvestNow’s single-sector Foundation Series funds, such as its US 500 Fund at 0.03% or Total World Fund at 0.06%, undercut it for specific narrow exposures, though those aren’t full diversified single-fund solutions like Simplicity’s Growth Fund. Kernel’s own funds, including its Cash Plus Fund at 0.25%, do not undercut Simplicity’s 0.23%.
Available Investment Funds
| Fund | Growth/Defensive split | Fee | Minimum |
|---|---|---|---|
| Simplicity Growth Fund | ~80% growth / 20% defensive | 0.23% | $1,000 |
| Simplicity Balanced Fund | ~60% growth / 40% defensive | 0.23% | $1,000 |
| Simplicity Conservative Fund | ~35% growth / 65% defensive | 0.23% | $1,000 |
| Simplicity NZ Bond Fund | 100% NZ fixed interest | 0.10% | $1,000 |
| Simplicity NZ Share Fund | 100% NZ shares | 0.10% | $1,000 |
| Simplicity Global Share Fund (hedged or unhedged) | 100% global shares | 0.15% | $1,000 |
All funds are PIE funds, taxed at your PIR rate (max 28%), and carry no member fee.
Simplicity Growth Fund — Detail
The Growth Fund is Simplicity’s diversified growth fund outside KiwiSaver.
What it holds:
- Global shares (~55%): passive, tracks MSCI World ex-Australia indices via Vanguard
- NZ shares (~15%): NZX 50 index
- Australian shares (~5%): ASX via passive index
- NZ bonds and cash (~20%): NZ government and corporate bonds
- International bonds (~5%)
Currency hedging: Simplicity hedges approximately 50–70% of international currency exposure.
Responsible investing: Simplicity excludes companies involved in weapons, tobacco, gambling, and fossil fuel extraction. It’s an ESG-aware fund without being a pure ESG/ethical fund.
Historical performance (approximate, total return after fees):
- 1-year: varies significantly by market conditions
- 5-year: approximately 7–9% p.a.
- 10-year: approximately 8–10% p.a.
Past performance does not predict future returns.
How Simplicity Compares to Alternatives
Providers are listed alphabetically.
| Provider | Fund | Fee | Fund variety | App |
|---|---|---|---|---|
| InvestNow | Foundation Series (varies by fund) | 0.03%–0.37% | 100+ funds | Web |
| Kernel | High Growth | 0.25% | 28 funds | Mobile app |
| Sharesies | Index funds/ETFs (brokerage-based, no ongoing platform fee) | ~0.20%–0.59% fund fee + 1.9% per-trade brokerage | Funds plus individual shares | Mobile app |
| Simplicity | Growth Fund | 0.23% | 6 funds only | Web only |
Simplicity’s features:
- Flat 0.23% fee on diversified funds (from 1 October 2026) with no member fee, compared with 0.80%+ for most actively managed funds
- Not-for-profit structure: fees go to costs, not profit
- Three diversified options: growth, balanced, or conservative
- ESG exclusions built in (weapons, tobacco, gambling, fossil fuel extraction)
Simplicity’s limitations:
- Not unambiguously the single cheapest option in NZ: InvestNow’s single-sector Foundation Series funds (as low as 0.03% on its US 500 Fund) can be cheaper for specific narrow exposures, though those aren’t full diversified single-fund solutions (Kernel’s own funds, from 0.25%, do not undercut Simplicity’s 0.23%)
- No individual fund customisation (you get what’s in the fund)
- No NZ/global split control within the Growth Fund — you can’t adjust geographic allocation without switching to the single-sector funds
- No shares or ETF trading
- $1,000 minimum (higher than Kernel’s $1)
- Web only, with no mobile app (Kernel has one)
Simplicity vs InvestNow
| Feature | Simplicity | InvestNow |
|---|---|---|
| Fee | 0.23% (diversified) / 0.10%–0.15% (single-sector) | 0.03%–0.37% depending on fund (Foundation Series) |
| Fund selection | 6 funds | 100+ funds |
| NZ/global split control | Only via single-sector funds | Yes |
| Minimum | $1,000 | $250/fund |
| Auto-invest | Yes | Yes |
| App | Web only | Web |
Simplicity: A pre-built growth/balanced/conservative structure at 0.23%, with no need to manage multiple funds.
InvestNow: Control over the NZ vs international allocation, a wider range of funds (including some of the lowest single-fund fees in NZ), and a lower minimum investment.
Simplicity vs Kernel
| Feature | Simplicity | Kernel |
|---|---|---|
| Fee | 0.23% (diversified) | 0.25% (core funds) |
| Minimum | $1,000 | $1 |
| App | Web only | Mobile app |
| Fund options | 6 | 28 |
| S&P 500 fund | No | Yes |
| Auto-invest | Yes | Yes |
Fee difference on $100,000: Simplicity $230/year vs Kernel $250/year, a $20/year gap, or roughly $900 over 20 years if each year’s saving were invested at 8%. The two are now priced almost identically on diversified growth funds.
Simplicity: A one-fund approach at 0.23%, slightly below Kernel’s 0.25%.
Kernel: A mobile app, a $1 minimum, and specific funds (S&P 500, Global 100, ESG), at essentially the same price as Simplicity now.
Simplicity Investment Funds: Features and Limitations
Features:
- One diversified fund holds the whole portfolio, at 0.23%
- A pre-built allocation in each diversified fund
- NZ exposure bundled in the diversified funds, with a standalone NZ Share Fund also available
- Not-for-profit structure
Limitations:
- No granular control over fund allocation
- No individual share trading (that needs a different platform)
- A $1,000 minimum, compared with Kernel’s $1
- InvestNow’s narrowest funds can undercut Simplicity’s fees for specific exposures
Simplicity KiwiSaver vs Simplicity Investment Fund
Both use the same fee structure (0.23% on diversified funds from 1 October 2026, no member fee) and same underlying fund structure. The key difference:
- KiwiSaver: Locked until 65 (exceptions for first home, hardship, serious illness)
- Investment Fund: Fully accessible — you can sell and withdraw anytime
Many investors use both: Simplicity KiwiSaver for the retirement/employer match/government top-up, and the Simplicity investment fund for additional long-term savings outside the KiwiSaver lock-up.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- Sorted Smart Investor: compares fees, returns and risk levels of KiwiSaver and managed funds.
- Disclose register: holds each fund's product disclosure statement and quarterly fund updates.
- Financial Service Providers Register: shows whether a provider is registered to offer financial services in New Zealand.
- The provider's own website: has its current rates, fees and full terms; these change more often than any comparison page.